My 52 Week Money Challenge 2015

Last year, I completed the 52 Week Money Challenge with a 50 pesos increment. By October, I was able to finish the said challenge getting as much as 70,000 in the process. Though the 50 increment would yield me only 68,900, I opted to add in a few pesos in order to get 70,000. After being able to save such amount, I put everything in my COL Financial account and invested on company stocks that I trust. Some amounts are just stored there waiting for an opportunity to buy a company once it dips or the price is in its support level.

This year, I vowed to take the 52 Week Money Challenge again. This time, I am implementing an even harder increment. It is the 100 increment. By the end of the challenge I would be getting as much as 137,800. That amount is pretty big and almost twice as much as the previous year. But I promised to do it.

As my mantra would say, Let’s make this happen!

Hence, in order for me to be able to complete the challenge, here’s how I get started. Taken from my previous post almost a year ago, here are the items that you need and I also need.

Goal

In order to keep the saving fire burning inside me, I need to be able to establish a goal as to where my money would go should I be able to finish the challenge. Last year, I want to buy a designer bag with my 70,000. However, as the months progress I notice that my goal is mediocre. I would want to be able to yield more with my money. After all, I saved for that amount for quite a long time and buying a bag with it is just unreasonable. Hence, might as well invest it. And good thing I did!

This year, with the money that I will save in the process, I vow to put all the money again in my investments. Simply imagine putting 137,800 in my COL account. I can’t even begin to imagine the number of shares I could buy with it and the companies I could venture into. I so want to expand my portfolio and number of shares this year. And this amount could greatly help me in achieving such dream.

Storage Bank

Last year, I put my money in a can. It was big and a bear could fit in there. However, it is just so easy to just open it and get money whenever I want. Hence, in order to steer clear from such temptation, I got all my money and deposited it in a local cooperative bank in my school. This is without an ATM. Hence, it would be pretty difficult for me to withdraw since it is inaccessible and even more, they are close during the weekends. Plus, it is pretty far from my office and I don’t want to drag myself there sometimes. Talk about being lazy.

This year, I would still put my money in that cooperative bank of mine. Same strategy as last year so it would be pretty hard for me to withdraw the money. Plus, it will also earn interest too. Wow!

Template

The template would be in line with the increment that I want to take and the increment that I chose is 100. It was suggested last year that you get to print out the template so you can simply highlight a week when you are done. I am also doing the same for this year. This time, I would be posting the template in my office cubicle so that I can see it almost every day. This will serve as a reminder and more so a motivation to continue with the challenge.

The 100 increment of the 52 Week Money Challenge is a whole new ground for me. I feel excited and at the same time anxious. I worry about the last few months of the challenge but I just keep my eyes on my goal. That is why having an established goal is necessary before the start of the challenge so that you won’t get sidetracked and so that you won’t give up. 

P.S. My very first e-book is finally here. You can buy it using the Buy Now button at the right or via bank deposit. Only Php 150.00. Purchase your copy now.

P.P.S To those doing the 52 Week Money Challenge, it is Week 2 already! Did you deposit the next amount yet?

P.P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too. 

P.P.P.P.S I am also sharing my stock market secrets and information via these resources.